Melbourne Cup favourite Incentivise suffered a leg injury during his brave attempt to hold off Verry Elleegant in the $8 million race.
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Trainer Peter Moody told Racing Victoria stewards Incentivise had swelling in his near foreleg after cooling down following his second placing to Verry Elleegant.
He said the Caulfield Cup winner would be assessed by a stable veterinarian in the next few days.
Incentivise made a bold bid for Melbourne Cup glory after pressing forward to race on the speed.
He took control of the race at the 400m only for Verry Elleegant to arrive on the scene soon after and put the result beyond doubt.
Incentivise kept UK stayer Spanish Mission at bay to hold down second at his first attempt at 3200m.
Geelong Cup winner Tralee Rose was also injured when she was galloped on by another runner in the early stages.
She finished ninth but was taken to a veterinary clinic to have treatment for a leg wound.
Tralee Rose's jockey Dean Holland was one of two riders suspended out of the Cup.
He pleaded guilty to careless riding for causing interference to New Zealand stayer The Chosen One.
Champion jockey Damien Oliver also pleaded guilty to careless riding on Delphi which led to Carif suffering interference.
Oliver was suspended for 11 meetings and will start his ban after Thursday's VRC Oaks meeting.
Verry Elleegant became the first mare to win the Melbourne Cup since the legendary Makybe Diva completed a hat-trick of wins in 2005.
Her victory for trainer Chris Waller and jockey James McDonald ranks as a crowning moment in a decorated racing career.
McDonald says Verry Elleegant deserves to be rated alongside the greats of the Australian turf.
"They can safely say she's a champion now," McDonald said.
Verry Elleegant was sent out an $18 chance before racing away to beat Incentivise ($2.90) by four lengths.
Spanish Mission ($10) was the best of the two overseas horses in finishing third with last year's winner Twilight Payment winding up 11th of the 23 runners, almost 20 lengths from the winner.
Australian Associated Press
